ICO listing: Health Nexus

SimplyVital Health

A healthcare-safe blockchain to lower costs and empower patients and providers across the globe. SimplyVital Health ICO rating – not rated.

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Ended ICO : 22/02/18 – 22/03/18

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web site SimplyVital Health
web site SimplyVital Health
web site SimplyVital Health
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About SimplyVital Health ICO (token sale)

Health Nexus is a blockchain-oriented distributed system handling data transfer, payments, and storage specifically designed for Health Care. Because of the sensitive nature and requirements of healthcare, existing blockchain distributed systems are not adequate for healthcare. The goal of Health Nexus is to create a blockchain system that can pass the stringent requirements of healthcare by ensuring better data integrity, encryption, and by providing a validation system to ensure the miners running this network are compliant entities.

Health Nexus uses a Distributed Hash Table combined with an Ethereum base Blockchain to provide, among many other features, an ability for frictionless data sharing and access to new revenue streams. This is accomplished via an upgrade to data integrity and security system and the addition of an executive governance system for node validation. Healthcare is under major financial distress, particularly in the United States. Strongly contributing factors are the inability to efficiently share data, the lack of transparency, and therefore the lack of effective care coordination. However, healthcare in the United States, specifically, is experiencing an unprecedented opportunity through federal legislation to benefit from and embrace technology that reduces the friction around transparency and data sharing.

Globally, other countries are also feeling the impact caused by the inefficiencies around poor care coordination. By allowing healthcare data to be securely shared in real time and for applications to be automated, healthcare costs can be significantly lowered by improving communication, data analytics, research, and ultimately, patient care. With steeply increasing healthcare costs, a secure solution for transparency and cost savings can have a massive impact on society.

Our goal is to transform Value Based Care using blockchain technology. Our system will provide a thriving ecosystem for creating a healthcare marketplace and the opportunity for sharing of healthcare data, with the goal of reducing the friction around and to increase the financial upside for providers participating in effective coordination. This marketplace can include apps for every piece of the care continuum such as healthcare facilities, insurance agencies, pharmaceutical companies, and research institutions. Because of the accessibility of the marketplace, applications can be written for local scale or globally.

Our current product, ConnectingCare, is designed to introduce blockchain technology to healthcare. The platform provides one of the most secure Health Insurance Portability and Accountability Act (HIPAA) protocols, and was one of the first working blockchain application in healthcare. As a practical and realistic foray into blockchain in healthcare, ConnectingCare uses a proprietary API call to create a receipt of activity in the SV platform that is stored on the blockchain. Tracking activity in healthcare technology platforms is a requirement of HIPAA. Securing this information on the blockchain ensures that this data is always available, accessible, and immutable. With providers being required to work together and share data like never before, security and trust is paramount.